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Should I Accept a Settlement Offer?

After a crash, you can recover compensation when someone else is responsible for your damages. In this process, you’ll deal with insurance companies and adjusters trying to protect profits and pay out as little as possible for your losses.

One tactic that insurance adjusters use against you is a settlement offer. While it may seem like a good thing because you’re getting compensation, a settlement is not always what it seems, and it’s often this offer that prevents you from recovering as much as you deserve.

Does the Settlement Cover Your Losses?

Before you accept any settlement offer, you should speak with your legal team. Your lawyer can help determine if the settlement offer is enough to cover your losses. Keep in mind, insurance adjusters are not quick to give out a full amount of compensation because they are concerned with their bottom line.

Insurance companies will often offer much less than you deserve because it helps them, but you don’t have to accept the settlement until it meets your needs. You can negotiate your settlement until you’re satisfied, but don’t go through the process without having a lawyer on your side.

What Happens After I Accept a Settlement?

It’s vital to recognize what happens when insurance adjusters get you to accept a settlement. Unfortunately, if you do accept a settlement, you forfeit your right to take further legal action to recover maximum compensation.

There may be few exceptions to this situation, but you should always speak with legal counsel to determine your options. If the settlement does not match your wants and needs, you may need to go to trial to recover the maximum amount to which you are entitled for your losses.

At Lowe Law Group, we’ll help you understand when a settlement is in your best interests. Our car accident lawyers want to help you maximize your claim, but when your rights are at risk, we’ll go above and beyond for your needs.